Re: Called office last week
in response to
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posted on
Jun 17, 2021 11:08AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
FINAL PEA is needed look it is 4 firms doing it maybe:
The Technical Report, titled “Mineral Resource Estimate Update for the Schaft Creek Property, British Columbia, Canada”, with an effective date of January 15, 2021, was prepared by H. Ghaffari. M.A.Sc., P. Eng. and J. Huang, Ph.D., P.Eng., of Tetra Tech Canada Inc. (“Tetra Tech”) and Michael F. O’Brien, P. Geo. of Red Pennant Geoscienc
Elmer B. Stewart, President and CEO of Copper Fox stated, “The updated resource estimate forms the basis of the Schaft Creek Preliminary Economic Assessment (“PEA”) that is underway and identifies opportunities to grow the project resource base. The Technical Report recommends a multi-purpose drill program including the collection of geological, geotechnical and metallurgical information.”
Resource Estimate for the Schaft Creek Project, effective date January 15, 2021:
Category |
Average Value | Metal Content | ||||||||
Mass | Cu | Au | Mo | Ag | CuEq | Cu | Au | Mo | Ag | |
Mt | % | g/t | % | g/t | % | Mlb | Moz | Mlb | Moz | |
Measured | 176.4 | 0.32 | 0.22 | 0.018 | 1.46 | 0.48 | 1,261.49 | 1.28 | 71.03 | 8.26 |
Indicated | 1,169.1 | 0.25 | 0.15 | 0.017 | 1.22 | 0.37 | 6,502.98 | 5.69 | 439.56 | 46.00 |
Total M&I | 1,345.5 | 0.26 | 0.16 | 0.017 | 1.25 | 0.39 | 7,764.47 | 6.97 | 510.59 | 54.26 |
Inferred | 343.6 | 0.17 | 0.11 | 0.013 | 0.84 | 0.26 | 1,303.07 | 1.18 | 95.50 | 9.28 |
Mt=millions of tonnes, Cu=copper, Au=gold, Mo=molybdenum, Ag=silver, CuEq=copper equivalent, Mlb=millions of pounds, Moz=millions of ounces.
Mineral Resources are reported using the 2014 CIM Definition Standards.
Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters:
Metal prices of $3/lb Cu, $1,200/oz Au, $10/lb Mo, $20/oz Ag, and pit slope angles that vary from 40-44º, metal prices are in US$.
Metallurgical recoveries reflective of prior test work that averages: 86.6% for copper, 73.0% for gold, 58.8% for molybdenum and 48.3% for silver.
Mineral Resources are reported using a net smelter return (“NSR”) cut-off of US$4.31/t.
Tonnes are metric tonnes, with copper and molybdenum grades as percentages, and gold and silver grades as gram per tonne units.
Copper and molybdenum metal content is reported in pounds and gold and silver content is reported in troy ounces.
Totals and Metal Content may not sum due to rounding and significant digits used in calculations.
Copper Equivalent % was estimated using average metallurgical recoveries for copper, gold, molybdenum and silver and metal prices stated in this release.